Founder Zhao Weifeng was the head of Midea’s manufacturing department.
Editor’s note: This article is from WeChat public account “Finance Doodle ” (ID: caijingtuya), author Bu Shao, editor tuya.
Foshan Longshen Robotics Co., Ltd. (Longshen Robotics) has obtained a new round of financing from Lihe Venture Capital and Xiaomi’s fund investment, according to the company’s intelligence expert “Finance Doodle”.
Tianyancha’s information shows that on December 8, Guangdong Lihe Kaiwu Venture Capital Fund Partnership (Limited Partnership) and Hubei Xiaomi Changjiang Industry Fund Partnership (Limited Partnership) were added as two shareholders. The original shareholder, Xiangjiang Hunan Haijie Equity Investment Partnership (Limited Partnership) has withdrawn.
Lihe Venture Capital is a subsidiary of Lihe Science and Technology Group Co., Ltd. Lihe Science and Technology Innovation Group is a technology innovation service platform company controlled by Shenzhen Tsinghua University Research Institute.
The actual controller of Hubei Xiaomi Yangtze River Industrial Fund is Lei Jun, who ultimately controls Xiaomi Yangtze River Industrial Fund through Xiaomi Technology Co., Ltd.
Longshen Robot was established in 2013. It is a company specializing in industrial robot system integration, non-standard automation equipment and complete line design and manufacturing, robot body, controller research and development, and intelligent manufacturing services, focusing on automated integrated systems, CCD Vision system, MES software system, robot body (independent CAPEK brand), robot education system and other fields, provide customers with complete robot systems and overall automation solutions.
The robot system developed by Longshen is widely used in stamping, injection molding, painting, welding, assembly, inspection, palletizing and other processes. Its customers cover Midea, Gree, Hisense, Changhong, TCL, AOC, Wanhe , Xinbao (Dongling), Little Swan, Galanz, Oaks, Chigo, Whirlpool, Daikin, etc. Longshen’s market share in the white goods industry has exceeded 60%, becoming the first system integrator in this field.
Longshen Robotics chose to establish a strategic cooperation relationship with Japanese robot giant Kawasaki when it was established. In 2015, Longshen Robots sold more than 500 robots, taking the No. 1 market share in the domestic white robot integrated application market. At the end of 2017, China’s first engineering research and development center jointly operated by Kawasaki and Takashi was established. In 2018, more than 800 Kopek robots were produced.
In addition to the white goods robot market, Longshen also entered the automotive manufacturing robot market in 2017, and the company’s revenue increased from 10 million yuan in 2013 to 500 million yuan in 2018. At present, Longshen has established cooperative relationships with a number of car companies such as Dongfeng Renault, FAW Toyota, and Guangzhou Automobile Toyota. In 2018 alone, automotive robots achieved 200 million yuan in revenue.
Longshen Robot is the S-class agent of Kawasaki in mainland China, and is a strategic partner of KUKA in Germany, ABB in Switzerland, and Fanuc in Japan. It has sold more than 5,000 application robots in five years.
At present, the company is headquartered in Shunde, Guangdong. The headquarters is mainly an enterprise platform control center, which vigorously develops the industrial robot body and integration business. Shanghai Dongguan Branch is a technology research and development center, and Changsha Wuhu base is a manufacturing center. At present, Longshen builds an unmanned factory supporting software and hardware by understanding the process of customer’s production equipment to logistics, and realizes the connection of EIP system (multifunctional enterprise information platform). Longshen has participated in Galanz, Wuxi Little Swan, Shandong Linuoruite, etc Construction of unmanned production lines in enterprises.
Longshen Robot completed the A round of financing in October 2016. On May 25, 2017, it received a B round of financing of nearly 100 million yuan. The main investors of this round are from the listed company Youa Shares. Longshen Robot increased its capital by 16.25 million yuan and the registered capital increased from 6.5 million to 8.125 million yuan. Youa shares invested 78.75 million yuan in cash by own funds. Foshan Longshen Robotics Co., Ltd. added 121.875 million yuan of registered capital, accounting for 15% of the registered capital after the capital increase. Tibet Jingkang Venture Investment Partnership (Limited Partnership) invested 26.25 million yuan to subscribe for 40.625 million yuan of registered capital, accounting for 5% of registered capital after capital increase.
It is worth noting that after this new round of financing, the shares of You-A shares are 12.76%, and Tibet Jingkang’s shares are 4.25%.
Longshen has more than 300 employees in 2018, of which more than half are technical employees. The founder, Zhao Weifeng, graduated from South University in 1999 and came down to Shunde. He entered Midea. He was the head of Midea’s manufacturing department, and has worked in machinery production, procurement, and management.